At 100 pages of report and 85 of appendixes, Steve Bracks and Co do not say much. The report proudly claims that Australia will, after 2010 if not already, have the lowest tariffs of all car manufacturing nations. While the report correctly notes that the tariff is a tax, it fails to suggest which taxes should be raised to cover loss of revenue. Tariff protection is not, or should not be, an issue in a world of floating exchange rates.